People’s Bank of Commerce and First National Bank of Long Island have shuttered mortgage lending businesses due to rising rates and stiffer competition from nonbanks.

Declining volumes at large sellers in the third quarter shifted market share to small shops. United Wholesale Mortgage remained the top GSE loan seller during the quarter. (Includes two data charts.)

The MBS is top-heavy in loans from California, Florida, Georgia and North Carolina...

The volume of FHA loans securitized into Ginnie Mae mortgage-backed securities increased 2.3% between July and August, while VA loan production sent to Ginnie declined at a similar rate. (Includes two data charts.)

After falling below $100 billion in each of the previous two periods, Ginnie Mae issuance turned a corner in the second quarter. But volume is still far off the numbers for most of the past four years. (Includes four data charts.)

The Neighborhood Homes Investment Act would offer tax incentives to support the creation or rehabilitation of 500,000 starter homes.

The company estimated more than 90 million households will meet the income eligibility requirements for the program.

The volume of FHA and VA originations continued to fall in the first three months of the year, marking the eighth straight quarter-over-quarter decline. (Includes three data charts.)

The flow of new single-family mortgage-backed securities in Ginnie pools dribbled to just $22.66 billion last month. Through the first two months of the year, volume was down 53.9% from the same period in 2022.

To gain ground in a tough origination market, Rocket has set its sights on purchase-mortgage borrowers while United Wholesale is focusing on margins.